Netflix (NASDAQ:NFLX) Price Target Raised to $720.00

Netflix (NASDAQ:NFLX) had its target price boosted by Benchmark from $555.00 to $720.00 in a research note published on Friday morning, MarketBeat.com reports. They currently have a sell rating on the Internet television network’s stock.

Several other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. UBS Group boosted their price target on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Bank of America boosted their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities boosted their price target on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Citigroup upped their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $813.00.

Netflix Price Performance

NFLX stock opened at $881.05 on Friday. The firm’s 50-day moving average price is $866.57 and its two-hundred day moving average price is $746.99. Netflix has a 12-month low of $466.53 and a 12-month high of $941.75. The stock has a market capitalization of $376.61 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, equities analysts predict that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,761 shares of company stock valued at $125,713,484. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of the company. DigitalBridge Group Inc. grew its stake in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its stake in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares in the last quarter. M&T Bank Corp grew its stake in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Netflix during the third quarter valued at $1,517,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.